China Molybdenum : APPROVAL OBTAINED FROM COMMERCE DEPARTMENT OF PRC WITH RESPECT TO BHR EQUITY ACQUISITION

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(Stock Code: 03993)

APPROVAL OBTAINED FROM COMMERCE DEPARTMENT OF

PRC WITH RESPECT TO BHR EQUITY ACQUISITION

We refer to the announcement (the "Announcement") of China Molybdenum Co., Ltd.* (the "Company") dated 19 June 2019 in relation to the acquisition of total equity of BHR Newwood Investment Management Limited (the "BHR Equity Acquisition"). Capitalized terms used in this announcement have the same meanings as those defined in the Announcement, unless otherwise stated herein.

The Board is pleased to announce that the Company has recently received the Enterprise Overseas Investment Certificate (No. N4100201900060) 《( 企 業 境 外 投 資 證 書》(Jing Wai Tou Zi Zheng No. N4100201900060)) renewed by Henan Provincial Commerce Department. Approval from the commerce department in the PRC is one of the review and approval procedures required for the BHR Equity Acquisition.

The BHR Equity Acquisition is subject to necessary external approval or filing procedures and there are uncertainties in relevant matters. Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the shares or other securities (if any) of the Company.

By Order of the Board

China Molybdenum Co., Ltd.*

Li Chaochun

Chairman

Luoyang City, Henan Province, the PRC, 18 September 2019

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As at the date of this announcement, the Company's executive directors are Mr. Li Chaochun and Mr. Li Faben; the Company's non-executive directors are Mr. Guo Yimin, Mr. Yuan Honglin and Mr. Cheng Yunlei; and the Company's independent non-executive directors are Mr. Wang Gerry Yougui, Ms. Yan Ye and Mr. Li Shuhua.

• For identification purposes only

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